a. Comolate an amortization schedule for a $18.000 ban to be repaid in equal installments at the end of each of the next three years. The interest rate = 12% compounded annually. Paund all answers to the recent. Beginning Balance nement Inbet Repayment of Brincial Ending Belenes 1 $ 5 2 $ $ $ 3 $ $ $ 3 b. What percentage of the payment represents interest and what percentage represents principal for each of the three years) Round was to two decimal places Princial Interest Yearfi Year 21 Year Why do the percentages change over time! 1. These percent change even though the total payment is the worst padati dengan outstanding balance dedins TT. These percentages change over time to the total payment constant the amount of interested increasing the mining or cutstanding balance decine II. These percentages change over time because even though he total payment is constant de contenterest paid each determinanding balance Increases IV. These percentages change over time because even though the total payment is content wronto interest and each year as the remaining er standing balance These percentages do not change over times interested prinepal are each a constant percentage of the total bonent increase Fatal Pute a. Setting up amortization table Calculation of loan payment Formula #N/A Beginning Balance Payment Interest Repayment of Principal Remaining Balance Year 1 2 3 b. Calculating % of Payment Representing Interest and Principal for Each Year Payment Payment Representing Representing Year Interest Principal 1 2 3 Check. Total = 100% Formulas Year 1 2 3 Beginnin Balance #N/A #NA Payment #N/A #N/A #NIA Interest NA #N/A NIA Repayment of Principal ANIA #N/A ENJA Remaining Balance #N/A #N/A #N/A b. Calculating % of Payment Representing Interest and Principal for Each Year Payments Payment Representing Representing Year Interest Principal 1 UNA WNIA 2 #NIA NIA 3 WNIA NIA Check Total 100% NA #NA INA